The nuclear situation in Japan is far more serious than has been portrayed. Huge amounts of extreme radiation is entering the atmosphere and heading east. Watch this piece from tonight's Rachel Maddow show. <object width="420" height="245" id="msnbc56151e" classid="clsid27CDB6E-AE6D-11cf-96B8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=10,0,0,0"><param name="movie" value="http://www.msnbc.msn.com/id/32545640" /><param name="FlashVars" value="launch=42100927&width=420&height=245" /><param name="allowScriptAccess" value="always" /><param name="allowFullScreen" value="true" /><param name="wmode" value="transparent" /><embed name="msnbc56151e" src="http://www.msnbc.msn.com/id/32545640" width="420" height="245" FlashVars="launch=42100927&width=420&height=245" allowscriptaccess="always" allowFullScreen="true" wmode="transparent" type="application/x-shockwave-flash" pluginspage="http://www.adobe.com/shockwave/download/download.cgi?P1_Prod_Version=ShockwaveFlash"></embed></object><p style="font-size:11px; font-family:Arial, Helvetica, sans-serif; color: #999; margin-top: 5px; background: transparent; text-align: center; width: 420px;">Visit msnbc.com for <a style="text-decoration:none !important; border-bottom: 1px dotted #999 !important; font-weight:normal !important; height: 13px; color:#5799DB !important;" href="http://www.msnbc.msn.com">breaking news</a>, <a href="http://www.msnbc.msn.com/id/3032507" style="text-decoration:none !important; border-bottom: 1px dotted #999 !important; font-weight:normal !important; height: 13px; color:#5799DB !important;">world news</a>, and <a href="http://www.msnbc.msn.com/id/3032072" style="text-decoration:none !important; border-bottom: 1px dotted #999 !important; font-weight:normal !important; height: 13px; color:#5799DB !important;">news about the economy</a></p> Say a prayer Fellas, that stuff is heading east... Rennick out
I don't know why stocks haven't sold off 1,000 points on the Dow yet. My wife is in Japan an she KNOWS things are much worse than what the media portrays.
According to my recollection of the biography of Jesse Livermore: In the 1800's, a big San Fransisco earthquake destroyed huge amounts of railroad track, bridged, and tunnels. American industry and especially the markets were dominated by the railroad industry. The market happened to be bullish at the time. Even that the news was relayed by telegram within hours, it took three days for the bullish rally to subside, and it wasn't until a week after the earthquake before market sentiment finally matched reality.